Upbeat music plays throughout
Video Introduction Plays
Narrator: Looking to place an options trade? Click Trade and select Options.
Trade is clicked, then All-In-One Trade Ticket
Narrator: Designed to make trading options intuitive, as you build the order the tool populates the relevant quote data, order details, and options contracts relevant to your single or multi-leg strategy. In this example, we'll place a single-leg call option trade.
To begin, look up the name of the underlying security you'd like to trade, then click the Strategy drop down menu and select options call. Once you have selected the symbol and strategy, a menu will appear where you'll be able to view and make your selections for the option contract you'll be trading.
Order ticket is filled out
Narrator: Next, click on the chains icon and select the expiration date of the options you want to trade. You'll then be able to see the details for each option in the table displayed. The strike price can be found in the center column of the table. The column directly to the left of the strikes will display the Calls, while the column on the right will display the Puts. Contracts that are "in the money" will be highlighted blue, while those which are "out of the money" will be highlighted white.
Table appears and various sections are highlighted
Narrator: Click in the bid/ask area to select the strike price for your desired option, fill out the remaining relevant details (action, quantity, order type, limit price, and timing) for your order and click Review Order. You'll then be able to see the Estimated Amount of your order, which is calculated based on the quantity of contracts you've selected. Keep in mind that most option contracts represent 100 shares of the underlying security. Once you click on Review Order, you'll see an overview of the information you've provided. After reviewing this information, click on Place Order to place your trade.
Order details are filled out and Place Order is selected
Video outro plays.